Prices in an oligopolistic market are likely to be:
A) equal to that of a monopoly market.
B) lower than that of a monopoly market.
C) equal to that of a competitive market.
D) lower than that of a competitive market.

Question

Quizplus · Accepted Answer

In an oligopolistic market, firms have some market power but face competition from a few other firms, leading to prices that are typically lower than in a monopoly, where a single firm dominates and can set higher prices.

Prices in an Oligopolistic Market Are Likely to Be